OK..I have no problem with scepicism...lolFor me the point of...

OK..I have no problem with scepicism...lol

For me the point of chart patterns is that they simply alert me to the probability of a particular outcome.

So once I spot a triangle pattern or a cup and handle or a double bottom, I can determine a price (by using the rules to the particular pattern) - at which point that stock has a high probability of moving upwards.

Once I have that price, I can set an alert and forget about monitoring that stock until that alert is triggered.

If the alert is triggered I would then determine whether to enter the trade by looking at the appropriate factors like volume, depth, and perhaps some indicators.

Not every triggerd price alert results in a buy decision, but by looking for chart patterns I'm simply able to sift out a manageable number of potenial trades in whatever sector I'm trading.

For short term trades I might use patterns alone and ignore the fundamentals..whereas for a longer timeframe I would use some fundamental analysis in conjunction with the charts.